Investors have been moving money into economies which are closer to beginning of their economic cycle

The U.S. dollar edged lower Wednesday, closing out its weakest monthly performance since March 2016, as investors piled into the euro and other currencies on expectations of surging growth abroad.

The Wall Street Journal Dollar Index, which measures the currency against a basket of 16 others, declined by less than 0.1%, to 83.22 on Wednesday, concluding a 3.2% fall for the month. The euro was up by less than 0.1%. The dollar rose 0.4% against the yen, while declining 0.3% against the British pound.